The right blames the credit crisis on poor minority homeowners. This is not merely offensive, but entirely wrong.
http://www.newsweek.com/id/162789A good article in Newsweek explaining how blaming the Community Reinvestment Act for the current economic crisis is a dishonest farce.
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9 commentsReplies
StillSleeping said, (55 days ago)
How about we just pay for things that we can afford?
Or the fact that inflation versus the average salary are in such discrepancy?
I hate when gazillionaires blame those with less money
soulcamp said, (55 days ago)
"It's not my fault. It's the poor people who didn't pay me the money they owe me, even though I was deceitful and greedy."
BIFF!
Reamworks SKG said, (55 days ago)
I don't think it's ENTIRELY wrong, just, maybe, 75% wrong. There were many organizations clamoring for "affordable housing" and they wanted it not by lowering house prices, but my making credit easier to come by. That was very bad thinking.
nomi oh my said, (55 days ago)
But how were we supposed to protect all the stupid and/or greedy people who were "victimized" by other greedy people, from themselves?
Here's what I want to know: Where's the fucking credit? We gave them the fucking money.
This bailout is such bullshit.
What we should have done is pass a bill where we pay burly men to inflict bodily harm upon lenders if they insist on not extending credit.